EU countries to raise defense spending by €2 trillion by 2031

The member states of the European Union (EU) intend to increase military spending by €2 trillion by 2031, Head of EU diplomacy Kaja Kallas said at the EUISS annual conference.

"Europe has embarked on the biggest military undertaking in recent history: 2 trillion euros in additional defence spending between now and 2031. We are developing our military capabilities. Europe’s annual capacity to produce ammunition is six times what it was just two years ago. Now we must do the same for key capability gaps such as air defence and precision-guided missiles. And we are slowly removing barriers in the single market. This is work in progress. It takes time, but it is happening, and that’s a start," she said.